Apr 11, 2016

Posted by in Biotech Stocks | 0 Comments

Watch List: Sarepta Therapeutics Inc (NASDAQ:SRPT), Geron Corporation (NASDAQ:GERN), Chimerix Inc (NASDAQ:CMRX)

Watch List: Sarepta Therapeutics Inc (NASDAQ:SRPT), Geron Corporation (NASDAQ:GERN), Chimerix Inc (NASDAQ:CMRX)

Sarepta Therapeutics Inc (NASDAQ:SRPT) plunged -2.58% and ended at $22.68. The total traded volume was 2.01 million shares and market capitalization arrived at $1.01 billion. The stock has a 52-week high price of $41.97 and its 52-week low was recorded at $10.20, while during last trade its minimum price was $22.37 and it gained the highest price of $24.20.

Sarepta Therapeutics Inc (NASDAQ:SRPT) on March 8, 2016 announced a long term plan to move all of the Company’s operations to Massachusetts, as part of a strategic plan to increase operational efficiency.

Over the course of the year, the Company plans to close their facility in Corvallis, Oregon, which primarily focused on early-stage research and research manufacturing. As part of the consolidation, research activities and some employees will transition to Sarepta facilities in Andover and Cambridge, Massachusetts.

The consolidation efforts are planned to occur in four waves – in May, October, November, and December of this year – with an estimated completion date of December 30, 2016.

Geron Corporation (NASDAQ:GERN) reported the decrease of -1.56% to close at $3.15 with the overall traded volume of 1.99 million shares. Its market capitalization on last close reached to $492.77 million. Its beta value stands at 2.81 times. The company has the total of 158.92 million outstanding shares. Its intraday-low price was $3.11 and its hit its day’s highest price at $3.29.

Geron Corporation (NASDAQ:GERN) on February 25, 2016 reported financial results for the fourth quarter and year ended December 31, 2015

For 2015, the company reported net income of $46,000, or $0.00 per share, compared to a net loss of $35.7 million, or $(0.23) per share, for 2014. For the fourth quarter of 2015, the company reported a net loss of $8.5 million, or $(0.05) per share, compared to a net loss of $8.9 million, or $(0.06) per share, for the comparable 2014 period. The company ended 2015 with $146.7 million in cash and investments.

Revenues for 2015 were $36.4 million compared to $1.2 million for 2014. Revenues for the fourth quarter of 2015 were $220,000 compared to $178,000 for the comparable 2014 period. Revenues for 2015 included the full recognition of the $35.0 million upfront payment from Janssen Biotech, Inc. (Janssen) as collaboration revenue upon the company’s transfer of the imetelstat license rights and completion of technology transfer-related activities outlined under the imetelstat collaboration agreement with Janssen in the third quarter of 2015. The upfront cash payment was received in December 2014 and recorded as deferred revenue at that time.

Total operating expenses for 2015 were $36.9 million compared to $37.5 million for 2014. Total operating expenses for the fourth quarter of 2015 were $8.9 million compared to $9.2 million for the comparable 2014 period. Operating expenses for 2015 included restructuring charges of $1.3 million in connection with the company’s organizational resizing announced in March 2015.

Research and development expenses for 2015 were $17.8 million compared to $20.7 million for 2014. Research and development expenses for the fourth quarter of 2015 were $4.0 million compared to $4.4 million for the comparable 2014 period. The decrease in research and development expenses in 2015 compared to 2014 primarily reflects the net result of lower personnel related costs due to the organizational resizing and reduced manufacturing costs for imetelstat drug product, partially offset by higher costs for the clinical development of imetelstat in collaboration with Janssen.

General and administrative expenses for 2015 were $17.8 million compared to $16.8 million for 2014. General and administrative expenses for the fourth quarter of 2015 were $4.9 million compared to $4.8 million for the comparable 2014 period. The increase in general and administrative expenses in 2015 compared to 2014 primarily reflects higher non-cash stock-based compensation expense.

Chimerix Inc (NASDAQ:CMRX) moved down -1.60% to settle at $5.54. Its total traded volume during last trading session was 1.80 million shares. The overall market worth of this company is about $251.76 million. The 52 week range of the stock remained $4.36 – $58.04, while its day’s lowest price was $5.51 and its hit its day’s highest price at $5.75.

Chimerix Inc (NASDAQ:CMRX) on February 29, 2016 eported a net loss of $117.4 million, or $2.67 per basic and diluted share, for the year ended December 31, 2015.  For the year ended December 31, 2014, the Company recorded net loss of $59.3 million, or $1.80 per basic and diluted share.

Revenues for 2015 increased to $10.8 million, compared to $4.0 million in 2014 due primarily to an increase in the reimbursable expenses associated with Chimerix’s ongoing contract with BARDA.

Research and development expenses were $97.2 million for the year ended December 31, 2015, compared to $45.4 million for the year ended December 31, 2014.  This increase was primarily due to the effect of increased costs related to the Company’s SUSTAIN and SURPASS studies, the AdVise study, and increased headcount and activities in the Company’s clinical, regulatory, development and manufacturing departments. General and administrative expenses increased to $31.8 million for the year ended December 31, 2015, compared to $17.5 million for the year ended December 31, 2014.  The increase was driven by expenses related to commercialization preparations for brincidofovir, and increased headcount and activities in the Company’s infrastructure.

Loss from operations was $118.3 million for the year ended December 31, 2015, compared to a loss from operations of $58.9 million for the year ended December 31, 2014.  The variance is due primarily to increased research and development and general and administrative expenses.

Net interest income was $0.9 million for the year ended December 31, 2015, compared to net interest expense of $0.4 million for the year ended December 31, 2014.  The change is due to interest earned on higher cash and investment balances over the prior year and decreased interest expense in connection with the full repayment of debt in 2015.

 

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